Oct 3, 2012 4:30pm PDT
are no longer financially dependent. cut those costs and you can bank the savings. i'm donna rosato. >> susie: that's "nightly business report" for wednesday, october 3. tom you probably remember four years ago today was the begining of that tarp plan to save the banks, but it's not the kind of anniversary that many american taxpayers will be celebrating. >> tom: no, dark days back in the fall of 2008, on the way down to that market bottom we saw in the spring of 2009. >> susie: have a great evening everyone, and you too tom. >> tom: you as well. wee got more coverage on nbr.com d back on the broadcast here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. also follows us on our facebook page at bizrpt. and on twitter @bizrpt.
Oct 3, 2012 6:30pm EDT
magazine senior writer, donna rosato. >> if today's tight job market has put your empty-nest fantasies on hold, you're not alone. three in 10 kids age 25 to 34 are living with their parents. the good news is that the kids do eventually get a job and move out, but that time at home isn't so great for the parental finances, leaving many empty nesters with more debt and less savings heading into retirement. here are some ways to pad your nest egg once the kids move out. first, redirect the money you were spending on the kids toward catch-up contributions to your 401(k) and i.r.a.s. if you and your spouse are over 50, you can each put away an additional $5,500 in your 401(k) and $1,000 in your i.r.a.s. next, reinvest your home equity. if you were already thinking about downsizing to a cheaper home when you retire, make the move now and invest the money you save. you're bound to do better investing it than betting on a big appreciation in the price of your home. finally, you may be able to cut back on life and auto insurance coverage if your kids are no longer financially dependent. cut tho